KAR Auction Services, Inc. is hosting the National Auto Auction Association (NAAA) Safety Day at the company’s ADESA Boston auction on July 25. Here, leaders from NAAA member auction across the country will learn, listen and exchange best practices on how the industry can better address safety risks, according to a company announcement.
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Prices consignors booked from off-lease fleet vehicles fell 0.2% in May, but remain up 3.5% from a year ago, Tom Kontos wrote in his monthly Kontos Kommentary.
Read More →ADESA has expanded the company’s dealer sales and services reach into additional regions throughout the U.S., to further enhance the online and in-lane customer experience, according to a company announcement.
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ADESA has named three new general managers at its Arizona, Tennessee, and Florida auctions, according to a company announcement.
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Average wholesale prices increased in April from March and from a year ago on the strength of truck values, but several benchmark segments in fleet lease sales are showing weakness, said Tom Kontos in his monthly commentary.
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In March, prices were down 2.5% year-over-year for current and one-model-year-old units and down 2.6% for three-model-year-old units, according to ADESA. Overall, wholesale used prices were up 2% compared to February and up 1% year-over-year.
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February provided "further concrete evidence of softening" of used vehicle prices during a month that usually shows improvement from January, ADESA's Tom Kontos wrote in his monthly Kontos Kommentary.
Read More →In January, all model classes showed month-over-month and year-over-year price gains — except full-size SUV/CUVs, according to ADESA. Overall, wholesale used vehicle prices were up 2.8% compared to December and up 6.7% year-over-year.
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Wholesale used vehicle prices in January averaged $10,945, a 6.7% year-over-year increase and 2.8% month-over-month rise, according to ADESA Analytical Services.
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ADESA faced a “challenging” fourth quarter in 2016, CEO of KAR Auction Services Jim Hallet said during the company’s fourth quarter earnings call.
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